Royal FloraHolland has reached agreement on a €210 million refinancing. This refinancing provides sufficient financial room in the coming years to make investments in the strategy, which includes sustainability, real estate and day-to-day services. For the first time in its history, Royal FloraHolland will link sustainability for financing. The credit line from three banks shows that there is great confidence in Royal FloraHolland's strategy and its role in making the floriculture sector more sustainable.

The new credit line will be provided by a banking syndicate consisting of ABN AMRO, ING and Rabobank, and will have a term of five years with the option to extend for two years. This will replace the current credit facility of €195 million, of which, incidentally, little use has been made in recent years. With this financing, Royal FloraHolland can implement strategic processes in the coming years, such as further investments in digital platform Floriday and the realisation of new real estate at Aalsmeer East. Investments in sustainability are also planned, from making real estate more sustainable to initiatives to make the sector more sustainable. In addition, financing serves to absorb fluctuations in liquidity in operations. 

Confidence

"I am proud of the great confidence banks are showing in Royal FloraHolland's course. The refinancing gives us the room for manoeuvre to invest in our digital platform and physical platform, the logistics hubs. This will directly benefit the service to our members and other customers," David van Mechelen, Chief Financial Officer of Royal FloraHolland, explained. "In addition, in the coming years Royal FloraHolland will invest in making its real estate, plant technology and working equipment more sustainable, among other things. An important step towards a CO2 neutral Royal FloraHolland," Van Mechelen said. 

Ton van Adrichem, Sr. Relationship Manager ING, on behalf of the banking syndicate; "As banks, we are delighted to be able to support Royal FloraHolland in rolling out its strategic plans with this new and extended financing. In particular with regard to making the property more sustainable, as well as the organisation and operational activities of Royal FloraHolland. This also gives a nice boost to the further sustainability of the floriculture sector as a whole."